Gyeongbuk Sangju City to Support Up to 300 Million KRW for 'Return-to-Farming Startups'... 75 Million KRW Housing Purchase Fund Planned

Applications Open Until the 28th for Returning Farmers and Non-Agricultural Residents in Rural Areas

[Asia Economy Yeongnam Reporting Headquarters Reporter Yeo Jong-gu] Sangju City, Gyeongbuk announced on the 13th that it will promote support projects for agricultural start-ups and housing purchases for returnees to farming to help them settle stably by the 28th.

Applicants must be household heads aged 65 or younger who actually reside in rural areas and are engaged in or planning to engage in agriculture, and must have lived in rural areas for more than one year.

They must also be non-agricultural residents who have not engaged in agriculture within the last five years, and must have completed more than 100 hours of return-to-farming and farming education within five years prior to application.

The support amount can be used for farming infrastructure, construction of food manufacturing and processing facilities, housing purchase, new construction, and extension or remodeling.

Selection criteria include the appropriateness and feasibility of the business plan, motivation to settle in farming, and adequacy of the loan repayment plan.

If selected, applicants can receive agricultural start-up funds up to 300 million KRW and housing purchase and new construction funds up to 75 million KRW, with a loan interest rate of 2%, a 5-year grace period, and a 10-year equal principal repayment plan.